— See Separate Table For Details of Individual Forecasts
TOKYO (MNI) – Japanese real average household spending in May is
expected to have posted an eighth straight year-on-year drop, down 1.8%,
but the pace of decline has decelerated from the previous two months,
according to the median forecast of analysts surveyed by Market News
International.
The Ministry of Internal Affairs and Communications will release
the May data at 0830 JST on Friday, July 1 (2330 GMT Thursday).
Economists said a year-on-year fall in May household spending
appears to be smaller than the previous drops, -3.0% in April and -8.5%
in March, in the wake of a gradual recovery in consumer sentiment that
was hit by the March 11 earthquake disaster.
On a seasonally adjusted basis, consumption in May is expected to
have risen 0.5% month-on-month, accelerating from +0.2% in April.
Japan’s seasonally adjusted Consumer Confidence Survey index
bounced back to 34.2 in May from a two-year low of 33.1 in April,
marking the first month-to-month rise in four months, Cabinet Office
data showed.
skodama@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4838 **
[TOPICS: M$J$$$,M$A$$$,MAJDS$]
